TORONTO, ONTARIO - (January 30, 2008) Uranium Star Corp. (OTCBB:URST) (FRANKFURT:YE5) is pleased to provide an update on 2007 exploration activities for its Sagar Property in northern Quebec, and outline exploration plans for 2008.
The extensive exploration program conducted in 2007 by Uranium Star has identified polymetallic unconformity and Iron Oxide Copper Gold (IOCG) targets on the Sagar Property. These targets were generated by empirical evidence from the substantial database constructed from 2006 and 2007 exploration activities, and are believed to be volumetrically more significant than the previous 'prize' at the Sagar Property, the source for the Mistamisk (a.k.a. Clandestine) Boulder Field. The source for the Mistamisk Boulder Field remains a target of consequence on the Sagar property because of the potential for high grade uranium and gold mineralization, but Uranium Star is realigning its exploration activities to also pursue potentially larger polymetallic unconformity and IOCG mineralized systems on the Sagar Property.
2007 Exploration
The objective of the 2007 exploration program was to identify the source of the Mistamisk Boulder Field mineralization. The Mistamisk Boulder Field is approximately 500 X 250 meters in size and contains many radioactive gold-bearing albitized mudstone boulders. In a Virginia Mines report, 70 boulders assayed an average of 64.9g/t gold and 1.3% uranium (with values up to 640 g/t gold and 4.11% uranium).
During the course of 2007 exploration activities, 46 Diamond drill holes (DDH) (5,610 metres), and 164 reverse circulation (RC) holes (2,625 metres) were drilled. The RC holes were pattern drilled to establish a glacial transportation vector for the Mistamisk Boulder Field mineralization. The DDH's were drilled to test geophysical anomalies on the Sagar Property. In addition to drilling, other exploration activities included prospecting of airborne geophysical targets, grid emplacement, ground magnetometer surveying, characterization of the litho-geochemical signature of Mistamisk boulders, and soil sampling.
DDH SUS-07-16 returned the most significant assay values obtained during the 2007 Diamond drilling program, including 2.46% Cu over 6.71 metres and 0.254 g/t Au over 1.52 metres. Mineralization was associated with chalcopyrite-filled hairline fractures within interbedded silicified mudstone and sandstone. DDH SUS-07-18 intersected 2.04% Cu over 0.76 metres in the same lithologic environment. Whole rock analysis of the Mistamisk Boulder Field samples corroborated a structural association with mineralization, with elemental associations of uranium with lead, nickel, cobalt, copper, molybdenum and arsenic indicating an unconformity associated polymetallic uranium style of mineralization.
In addition to anomalous DDH results, new mineralized showings were identified through the course of 2007 exploration activities on the Sagar Property. These showings were narrow in nature which is consistent with most of the mineralized showings identified to date on the Sagar Property. These are predominantly narrow, structurally controlled polymetallic veins. An examination of the Mistamisk Boulder Field by geological staff in 2007 revealed a similar mineralization footprint, in that no high grade mineralized boulder was found greater than 1 meter in diameter, and that high grade mineralization was often found in cobbles or within veins less than 30 cm wide within argillic boulders. The source mineralization for the Mistamisk Boulder Field constitutes a target of consequence because of its potential to host high grade uranium and gold, but it is believed to be narrow, hence its elusiveness. What the numerous narrow polymetallic veins found on the Sagar Property indicate, however, is that there is considerable potential for volumetrically significant unconformity and IOCG mineralization on the property.
Geochemistry
Anomalous geochemistry (i.e. elevated gold, uranium, and copper) identified during the 2007 exploration program in rock grab and Diamond drilling samples appeared to be structurally controlled, with mineralization restricted to small veinlets and breccia zones. Whole rock analysis of the Mistamisk Boulder Field samples corroborated a structural association with mineralization, with elemental associations of uranium with lead, nickel, cobalt, copper, molybdenum and arsenic indicating an unconformity associated polymetallic uranium style of mineralization. Whole rock analysis of high grade Mistamisk Boulder Field samples also revealed that mineralization is intimately associated with albitization, and kaolinite and illite clay alteration.
By utilizing the geochemical signature of the Mistamisk Boulder Field, a multi-component normalized 'Boulder Field Index' was developed and applied to the soil, reverse circulation drill hole and water geochemical sample data sets for the Sagar Property. This data manipulation has resulted in the identification of 17 prioritized soils anomalies, and 6 RC anomalies that are associated with structures interpreted through analysis of the compiled geophysical data for the Sagar Property, and are priority targets for polymetallic unconformity-style mineralization. Additionally, when this geochemical data is taken in conjunction with interpreted clay alteration data (i.e. kaolinite and illite) and hypothesized glacial dispersion trains, three potential source areas for the Mistamisk Boulder Field mineralization are identified.
Similar to the Boulder Field Index, a multi-component normalized 'IOCG Index' was developed and applied to RC, soil, and water geochemical data collected over the Sagar Property. This IOCG Index identified aerially extensive targets associated with a large east-west trending structure that bisects the Romanet Horst in an area under-explored by previous workers.
Future Exploration
Uranium Star will resume exploration on its Sagar Property in the late winter/early spring of 2008 utilizing its fully provisioned, state of the art exploration camp situated on the shore of Mistamisk Lake. This will be facilitated by an all weather airstrip that was installed during the 2007 exploration program.
Exploration activities will include targeted drilling for the source mineralization of the Mistamisk Boulder Field, which is a target of consequence, but will focus on potentially volumetrically significant polymetallic unconformity and IOCG related mineralization.
The unconformity between Proterozoic and Archean aged rocks is known to underlie the Property at relatively shallow depths. Target areas consisting of graphitic bearing horizons (defined by geophysics) in close proximity to major boundary faults of the horst are thought to be prime targets for drilling. A number of coincident geophysical and geochemical targets have been defined that require drill testing.
The styles of alteration and mineralization defined on the Property to date also indicate that a hybrid type of IOCG deposit may be the source of the Mistamisk boulders. A reinterpretation of the property geology and geophysical surveys along with strong geochemical signatures will allow the Company to zero in on specific drill targets with IOCG affinities.
Craig Scherba, P.Geo., supervised Uranium Star's exploration activities on the Sagar Property and is the designated qualified person for the technical information contained in this release.
Drill core, reverse circulation chips and soil samples were sent to ALS Chemex in Val d'Or for analysis. Reference standards, duplicates and blanks were inserted into the sample streams as part of an ongoing QA/QC program.
Except for historical information contained herein, the matters discussed in this press release are forward-looking statements that involve risks and uncertainties. Actual events or results could differ materially from expectations and projections set out herein.
For further information please refer to the NI 43-101 compliant report summarizing 2007 exploration activities on the Sagar Property. The report can be found in its entirety on Uranium Star's website at www.uraniumstar.com
. For additional information please contact:
Brent Nykoliation
Director of Business Development
Uranium Star Corp.
Toll Free: 800.818.5442 or 416.364.7024
Email: bnykoliation@uraniumstar.com